BROKER REPORT: Oppenheimer & Co.’s Joseph Iovino

The investment fraud attorneys at Malecki Law are interested in hearing from investors who have complaints regarding Oppenheimer & Co. broker Joseph Iovino. According to his BrokerCheck report maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Iovino has been the subject of seven reportable disclosure events, including customer complaints.

Per FINRA records, Mr. Iovino has been involved in two regulatory events, four customer complaints and an employment separation after allegations.

According to his BrokerCheck, in 1992, Mr. Iovino was terminated by Prudential Securities for violating firm policy.

That same year, Mr. Iovino was the subject of a customer dispute alleging unauthorized trading with claimed damages in excess of $140,000 according FINRA. BrokerCheck indicates that this case was settled with Mr. Iovino paying $100,000 to the customer personally, and $47,500 paid to the customer by the firm.

In 1994, Mr. Iovino was fined $7,500 by the NASD (now FINRA) for alleged misconduct, per industry records. Mr. Iovino was again fined by the NASD in 2002 for alleged violations of FINRA Rule 2110 and IM-2110-1, per BrokerCheck.

In 2001, a customer made allegations of churning and unauthorized trading against Mr. Iovino, which resulted in a $210,000 settlement, according to FINRA.

FINRA records indicate that in 2009, Mr. Iovino was alleged to have made unsuitable recommendations, engaged in excessive trading and made unauthorized trades. This case was reportedly settled for $35,000.

Finally, in 2011, Mr. Iovino was the subject of another unauthorized trading allegation by a customer, which resulted in a second $210,000 settlement, per FINRA.

The attorneys at Malecki Law are regularly contacted by and regularly represent individuals who have lost money in connection with inappropriate securities transactions, including excessive trading/churning, by financial advisors/stockbrokers. An experienced investment fraud attorney may be able to help you recover your losses.

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